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WIKA Net Profit Increase 70% in First Semester 2017

by Sebastianus Epifany Friday, September 22, 2017 - 14:57

JAKARTA - Based on the audit of financial statements results as of June 30, 2017, PT WIJAYA KARYA (Persero) Tbk. ("WIKA") posted a profit of Rp 435,92 billion in the first half of 2017 or increase 70% compared to the same period last year with a net income ratio of 4,60 %.

The net profit was supported by WIKA's sales in the first half of 2017, which reached Rp9,48 trillion, up 57,19% from Rp6,03 trillion in the same period last year.  The Company's cash and cash equivalents amounted to Rp 7,82 trillion with a total interest-bearing debt of Rp 6,75 trillion and capital of Rp 12,85 trillion.

Based on the company's press release which reported on (22/9), this shows the ratio of interest payable and net gearing ratio of 0,53 and -0,08, respectively, which shows the Company's cash and cash equivalents higher than the total interest of the Company.

The positive note in the first semester was reflected in the record of contracts faced by the Company in early September 2017 which reached Rp 94,07 trillion or 91,17% of the contract target faced in 2017 amounting to Rp 103,25 trillion. This achievement is much faster and bigger than this target supported by WIKA's ability to win a series of new contracts which jumped 31,1% over the same period last year.

The largest contribution to the achievement of new contracts came from the infrastructure, building and property sectors with a contract achievement of Rp 20,66 trillion, followed by the energy sector and industrial plant of Rp 6,45 trillion. Meanwhile, the industrial sector contributed Rp 3,65 trillion in contracts.

In the infrastructure sector as the largest contributor of new contracts, one of the projects undertaken is the Balikpapan-Samarinda toll road with a total length of 99km. WIKA worked on sections 2, 3 and 4 out of a total of 5 section workmanship.

President Director of WIKA, Bintang Perbowo, explains that he is proud of the achievement because the success is based on the commitment of all management levels to develop research to boost innovation and foster WIKA human capital capabilities.

Director of WIKA Bintang Perbowo explained that the achievement is very proud is based on the commitment of all levels of management to develop research to boost innovation and foster human capital capabilities WIKA.

"WIKA is committed to developing the research and development sector through WIKA Engineering Research Institute (WERI) which cooperate with a reliable construction company from Japan, Kajima Corporation. Research results from these institutions will help WIKA to improve the quality of work and more efficiently," said Bintang.

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